Union Minister Piyush Goyal Emphasizes Automotive Industry at SIAM Annual Convention 2023

During the Valedictory session of the SIAM’s 63^rd Annual Convention themed "‘Aatmanirbhar’– The Roadmap to Increased Localization and Harnessing Export Potential of the Indian Auto Industry", the Chief Guest, Mr. Piyush Goyal, Hon’ble Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Government of India, stated, "Democracy, demographic dividend, and diversity are the three D’s propelling the automobile industry onto the fast lane. India’s has achieved 'Aatmanirbharta' in many ways and have joined the ranks of nations where basic life aspirations such as digital connectivity, road infrastructure, healthcare, and water supply are being fulfilled, a testament to the ‘new India’ that our people collectively strive for. Today, the middle class seeks value and pride in their automobile choices, driving significant market demand indigenously. We must encourage significant investment in electronic components and products made in India, boost R&D within our nation, and nurture domestic industries. We must also reduce our dependence on imports and should rather trust our localised capabilities within our own ecosystem.”

Addressing the session, Dr. Pawan Goenka, Chairman, Steering Committee on Advancing Local value-add & Exports (SCALE), Ministry of Commerce & Industry, said, “Indian automotive industry has long embodied self-reliance, and has been working for very long towards being Aatmanirbhar. Currently, we are the world's third-largest automobile market and India has clear advantages in terms of its demographics, geopolitical positioning, and now, with our success at the G20.  With being one of the largest markets, it is pertinent that efforts be placed to increase automotive exports and for that we need a dedicated task force that should work towards this goal. While we have come a long way in the domain of localization, true progress for the sector will be driven by the export market.”

Mr. Vinod Aggarwal, President, SIAM and Managing Director & CEO, Volvo Eicher Commercial Vehicles Ltd., and Mr. Sunjay Kapur, President, ACMA and Chairman,

Sona Comstar, were also present during the session.